Warren Buffet Donates Shares Worth $2.6 Billion
The billionaire Warren Buffet donated shares worth $2.6 billion to five charitable foundations, as a part of giving a portion of his fortune before he dies.
Buffet donated 17.4 million Berkshire Hathaway shares, which were being traded last Monday in New York for $115 a unit, according to CNN Money. The biggest part of his donation, of almost $2 billion, went to Gates Foundation, a charitable foundation of Bill Gates and his wife.
Buffett, aged 82 years old, has donated also 1.7 million shares, worth $200 million to Susan Thompson Buffett Foundation, and 1.2 million shares ($140 million) to Howard G. Buffett, Novo and Sherwood Foundation, each.
Berkshire Hathaway is an investment holding with a wide interest area, from the rail freight and finance, to production of consumer goods, retail, services, insurance, media and restaurants.
Bill and Melinda Gates Foundation is one of the largest charitable organizations in the world with activities focused on combating the poverty.
Warren Buffet is the second richest man in America and the third globally, according to Forbes. In 2010, he launched, together with Bill Gates, The Giving Pledge campaign, through which they encouraged the world’s billionaires to donate 50% or more from their fortunes to charitable foundations, either during their lifetime or posthumously.